Location: Gray County, TX | Metro: Gray County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The ZIP code 79002, located in Texas, presents a unique scenario for real estate investment, particularly under the lens of Section 8 housing. To classify this area, we must consider both the yield potential and the stability factors.
Starting with yield, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,100. This figure represents the maximum rent that can be charged for a Section 8 rental unit in this ZIP code. However, it's important to note that the market rent and home values are currently unavailable, which means our analysis is primarily based on the FMR figure. Given the absence of market rent data, the FMR stands out as the key benchmark for rental income potential.
Moving onto stability, the data indicates that there are no available figures for the percentage of renters, days on market (DOM), or median income. This lack of data makes it challenging to assess the financial health and economic resilience of the area. Without these critical metrics, we cannot determine how stable the tenant base might be or the likelihood of rapid property turnover.
Based on the available information, ZIP 79002 does not clearly fit into a high-yield/low-stability 'flip-style' market or a steady-cashflow zone. The fixed rental income through Section 8 provides a reliable source of cash flow, assuming the area maintains a steady demand for subsidized housing. However, the inability to gauge broader market stability due to missing data suggests caution in fully committing to either classification. Investors should seek additional local market insights before making decisions.
To summarize, with a guaranteed rental income of $1,100 per month per unit through Section 8, ZIP 79002 offers a predictable yield. Yet, the lack of comprehensive stability indicators leaves the true nature of this market ambiguous, necessitating further investigation into local trends and conditions.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.